Transmira has created Omniscape, a Metaverse application that aims to create digital twins of the real world to link them with real world use cases. During the London Blockchain Conference, Robert Rice, Co-Founder and CEO of Transmira, gave a presentation on Omniscape.
Omniscape is an application that uses AI and the BSV blockchain, to facilitate utility in the Metaverse. In this article, we focus on the key topics and summarise the essence of the presentation.
Metaverse – more than just virtual reality
The context of travelling can evoke emotions of fear, uncertainty, lack of information and anxiety. Rice presents Omniscape as an opportunity to explore destinations, countries, cities and even specific locations ahead of time.
Challenging the common perception that the Metaverse is solely about virtual reality, he asserts that, for them and their company, it encompasses one’s identity, location, surroundings, and innovative access to data and information. Rice suggests that such simulations can be utilised for various purposes, presenting new opportunities for government, business, and transformative brand applications.
The Metaverse involves augmented reality for the current environment and 3D or virtual simulations for different locations. When combined with data from IoT sensors, open government databases, and artificial intelligence, these elements can create a nearly perfect simulation of the real world. Rice uses the term web3 trifecta for the synergy between key technologies that form the experience of Omniscape.
Web3 trifecta – AI, Blockchain and Metaverse
For Rice, the web3 trifecta consists of artificial intelligence, blockchain, and the Metaverse itself. He clarifies that the Metaverse is not just a game but a transformative force with the potential to impact economies, industries, and various aspects of daily life. He emphasises that a fully realised Metaverse relies on the integration of artificial intelligence and blockchain. Individually, these technologies are powerful, but their combination creates a significant convergence point.
Your introduction to the Metaverse (eBook)
Rice touches on the recent growth and innovation in artificial intelligence, particularly mentioning ChatGPT. This integration of digital twins and AI creates a fertile ground for a multitude of applications across various industries, such as retail, travel, education, government services, and city planning.
To illustrate the utility, Rice presents ChatGPT based bots as customer service agents or guides within the Metaverse. However, the possibilities are limitless when these technologies work together seamlessly, catering to both developers and businesses seeking accessibility in the Metaverse.
Blockchain for Metaverse
In order for the Metaverse to work properly and without major vulnerabilities that allow for fraud and data theft, a scalable and secure blockchain needs to serve as the backbone for the Metaverse.
Rice emphasises that blockchain goes beyond cryptocurrency and secure data storage; it is a crucial technology for realising the full potential of the Metaverse and, to some extent, artificial intelligence. Blockchain ensures the trust, security, and origin of data used in simulations for cities, towns, games, or experiences in Omniscape.
Rice argues that for engaging in commerce and protecting identity, a trustworthy and secure infrastructure is essential. He notes that BSV is the most suitable blockchain, pointing out that it is the only one capable of handling the required size, speed, scale, and cost to fully bring the Metaverse to life.
Market impact of the Metaverse
Rice underscores the imminent significance of the Metaverse, predicting it to become a massive industry in a short time. He refers to analyses by entities like Goldman Sachs, highlighting the staggering potential for wealth creation in the Metaverse, particularly in terms of monetisation.
Rice emphasises that while many discuss the Metaverse broadly, few focus on the crucial aspect of Metaverse monetisation. He stresses the importance of creating value and linking the real world with the digital or virtual one, often termed “phygital” (physical plus digital). Rice asserts that blockchain is essential for securely achieving this connection, opening up numerous opportunities for commerce and enabling tapping into the full potential of the Metaverse.
Omniscape’s unique approach
In the context of monetisation, Rice also introduces Omniscape’s strategy to conceptualise and integrate various elements for the benefit of government, business, brands, content creators, and consumers.
He proposes a unified approach, combining augmented reality and virtual reality, tied to location, forming a vertical stack. This stack comprises layers building upon one another, starting from the real world and progressing through data, augmented reality, digital twins, and beyond. The goal is to create something compelling and useful with utility that can be monetised for various purposes.
Rice illustrates how use cases in the real world provide utility beyond the monetisation aspect. One such use case is, for example, avoiding the need to physically visit government offices. Another example is that individuals can experience and familiarise themselves with environments ahead of time, reducing anxiety and increasing comfort. Out of these examples, a multitude of further use cases can be derived.
Towards the end of his presentation, Rice emphasises that the Metaverse’s impact is not a distant future prospect. Accelerated by current external factors like Covid, work from home trends, economic and political upheavals, Rice predicts a near-future turning point that will cause radical changes and widespread impact similar to past transformative technologies like the iPhone, the Internet, and ChatGPT.
